The following standards have been established for a raw material used to make product 084: Standard quantity of the material per unit of output Standard price of the material 7.7 meters $ 18.50 per mete:r The following data pertain to a recent month's operations: Actual material purchased Actual cost of material purchased Actual material used in production Actual output 4,000 meters s 77,600 3,700 meters 560 units of product 084 The direct materials purchases variance is computed when the materials are purchased. Required: a. What is the materials price variance for the month? b. What is the materials quantity variance for the month? a. Materials price variance b. Materials quantity variance